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1886-S $5 GOLD LIBERTY HEAD MS 63 GRADE OR HIGHER

Currency:USD Category:Coins & Paper Money / US Coins - Gold Start Price:1.00 USD Estimated At:400.00 - 800.00 USD
1886-S $5 GOLD LIBERTY HEAD MS 63 GRADE OR HIGHER
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Mint: San Francisco
Obverse Designer: Christian Gobrecht
Reverse Designer: Christian Gobrecht
Composition: Gold
Weight: 8.3600g
Diameter: 21.6mm
Edge: Reeded

A gold dollar coin had been proposed several times in the 1830s and 1840s, but was not initially adopted. Congress was finally galvanized into action by the increased supply of bullion caused by the California gold rush, and in 1849 authorized a gold dollar. In its early years, silver coins were being hoarded or exported, and the gold dollar found a ready place in commerce. Silver again circulated after Congress in 1853 required that new coins of that metal be made lighter, and the gold dollar became a rarity in commerce even before federal coins vanished from circulation because of the economic disruption caused by the American Civil War.